In the country's deep integration into the world economy, small and medium-sized enterprises (SMS) in Khanh Hoa Province are also very active in improving machines, expanding production and raising products' quality to serve the market.
In the country’s deep integration into the world economy, small and medium-sized enterprises (SMS) in Khanh Hoa Province are also very active in improving machines, expanding production and raising products’ quality to serve the market.
Investment with depth
Phan Van Lum, director of Hung Bao Co., Ltd, shared that his company produces auxiliaries for ship building to supply for Hyundai Vinashin Shipyard Co., Ltd. and some partners in Ba Ria – Vung Tau. However, while the competition got harder and harder, his factory hadn’t enough machines for production. Therefore, in early 2016, the company has rent a 5,000 sq.m area in Dien Phu Industrial Group to expand production with VND8 billion in total expenditure. The company also invest more than VND1 billion to buy new machines. “We decided to invest modern machines and expand production to meet demands for models and quality for our partners”, Lum said.
Another example is Viet Phap Co., Ltd. in Dien Khanh District, a producer of sports devices continuously innovating technologies to improve quality and design of its products. Hoang Trong Tu, director of the company, said, “Our last aim is manufacturing best quality products in order to stand firmly in the context of international integration. Sports devices from Thailand have been imported into our country, our products aim to have the same quality as theirs.”
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| Manufacture at Hung Bao Co., Ltd. |
Support from industry encouragement fund
Le Ngoc, temporary director of the provincial Industry Encouragement and Trade Promotion Center, also confirmed that in recent time, many enterprises have poured money into modernize equipment and expand production to raise their competitiveness in the market.
The State always encourages enterprises to do this investment. Annually, the plan for industry encouragement by the provincial People’s Committee encourages as well as supports enterprises to improve production lines and expand manufacture with total expenditure of many VND billion. In addition, the Ministry of Industry and Trade also allots the national industry encouragement fund for localities, including Khanh Hoa. In 2014, support for industry encouragement in the province was VND1.5 billion. The figure was VND1.4 billion in 2015. For 2016, the provincial Industry Encouragement and Trade Promotion Center has submitted a plan supporting 13 enterprises to the provincial People’s Committee.
Nhat Thanh
Translated by T.T
